Great NYT article on how regional banks are encouraging their Middle Eastern clients to start investing in art. Emirates NBD (an Emirati bank) has even introduced an art fund. The article goes on to mention that the Middle East art market is currently valued at a staggering $10 billion, with high future growth predicted! Great news for the art scene in the region!
“With the arrival of new museum complexes in Abu Dhabi and the developments in Kuwait and Qatar, we are seeing the Middle East going from a very low spending profile in the arts to a very high one, possibly overtaking the biggest collectors in the world in terms of spending on art…” (NYT article cited below)
What do you think? Does it sound like a safer investment than stocks?
Take a look at the article:
We want to thank the NYT for putting the spotlight on Middle Eastern art. Their articles have been very informative, and are helping promote Middle Eastern art to the world.